Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/17696
Authors: 
Vinhas de Souza, Lúcio
Year of Publication: 
2002
Series/Report no.: 
Kiel Working Paper 1137
Abstract: 
The aim of this paper is to estimate the trade gains arising from the constitution ofa currency union for a set of economically large, developed nations who create a monetary union as a deliberate economic policy action: namely, for the members of the euro area. With a 1980-2001 sample, no consistent significant trade effects from the 1999 creation of EMU are found, using dummies for the 1999-2001 period. Treating EMU not as a single event but as a part of a long-term integration process, and representing it by a series of continuous cross-country interest differentials, the evidence seems to be stronger, but it does not seem to be conditional on any single, specific exchange rate arrangement.
Subjects: 
Currency Unions
EU
EMU
panel model
gravity equation
Document Type: 
Working Paper

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